17 Jan '17, 1pm

Property market stabilising, says MAS chief | Property Market

Property prices in Singapore surged from 2009 to 2013, but have fallen by around 11 percent since then. The various property cooling measures rolled out by the government have been effective in stabilising Singapore’s once soaring property market, reported CNBC citing the central bank’s chief. From 2009 to 2013, property prices here soared by over 60 percent, on the back of record low global interest rates and quantitative easing in developed countries following the Global Financial Crisis, even as the government introduced a slew of cooling measures to prevent a bubble. With the measures, the property price index dropped by around 11 percent from its peak in Q3 2013 through end-2016, revealed Deutsche Bank data. The occupancy rate for residential units also fell from 95 percent in 2009 to 90.8 percent last year. “The measures that have been taken have — with each passing ...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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